If you want to sober up quick on New Year’s Day, open your credit card statement.
Americans are worried about money. They’ll probably be more worried in the new year, when they wake up, bleary-eyed, after a month of binge-shopping on gifts.
You may not be surprised, then, to hear the most popular financial New Year’s resolutions for 2025. They represent the opposite, basically, of what many of us do around the holidays, which is spend money and take on debt.
In a survey by The Motley Fool, the finance and investing site, consumers named “paying off debt” as their top financial resolution for 2025, especially credit card debt.
In a survey by Edward Jones, the investment firm, consumers named “building a savings account” as their top financial resolution. No. 2: paying off credit card debt.
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A third survey, from the personal finance site WalletHub, yielded three top resolutions. Together, they sum up the aspirations of the American consumer: Save more, spend less, and make more money.
Build up your savings, or pay down your debt
Increase savings or reduce debt: They’re both great goals, financial advisers say.
“Get that momentum going to where you’re either building up your savings or paying down your debt, whichever you’re trying to accomplish,” said Robert Brokamp, a certified financial planner and senior adviser at Motley Fool.
But, which to prioritize? That’s a subject of endless…
